I have just discovered (I'm probably really late to this game) that one can create Launchbar actions which trigger specific KM macros or invoke palettes of KM macros.
For example, I created a LB action called "URL Preview" which triggers a KM macro (which I posted about here) which pops up a web browser window using the URL in the clipboard.
Basically, I made the LB action execute a simple Applescript:

And ... boom!

